Astronomical pay hikes and CB decision makers working in their ivory towers

Most of the public of Sri Lanka were shocked to read in the media that the entire staff of the Central Bank of our country were to be given a raise in their salaries ranging from almost a million rupees to one hundred thousand rupees for their lowest grade viz office peons.

It is inconceivable that the hierarchy who recommended this decision were not aware of the trials and tribulations that our public service consisting of university professors, highly competent medical professionals, engineers in different fields ranging from electronics to construction plus of course, personnel handling administration, nursing, mid-level persons of varied professions and the office assistant grades seeking enhancement of their salaries to fairly reasonable levels. Their demonstrations and marches were doused by water cannons and their breathing was impaired by tear gas.

The country which had declared itself bankrupt was not in a position to meet these demands. Whilst some of the more educated strata from these groups migrated to developed countries, others had no option but to “grin and bear”. Of course the government did give a pay rise of Rs.10,000 across the board w.e.f. April this year. Medical officers were given an immediate raise of Rs.35,000 which they have accepted in good faith realizing the plight of the country.

The Central Bank decision makers working in their ivory towers may not be aware or chose to ignore this when they deemed fit to pay themselves astronomical pay hikes. In this context it is sad but hilarious that the pay of a peon in the Central Bank is more than that that of a new entrant MBBS qualified medical officer.

The extremely lame excuse given by the independent Governor of the CBSL is that it will be difficult to retain his experienced staff as they may opt to resign and migrate. He does not seem to bother that the country is in an abyss from which it is struggling to extricate itself. More than 50% of their fellow citizens have cut down their food intake and other sundry necessities to make ends meet.

The Central Bank may not be the only place in this country that has Economics and Accounting professionals. Let the persons holding the proverbial sword of Damocles over the finances of our country depart. Hopefully suitable replacements could be found. Failing this, the government could appeal to friendly governments like Singapore, South Korea, India, Malaysia, New Zealand, Australia and a couple of Western countries to second a few of their personnel to our Central Bank to get matters moving.

Let the thick skinned present day staffers proceed singing a modified popular refrain of the days of yore viz “Give me a Home where the buffaloes roam and the thick skinned hippos and rhinos play all day”.

Air Vice Marshal (retired) A.B. Sosa Via email